Complaint Details

Status	:	Closed
Complaint No	:	0037520/2014
Category	:	Non-Compliance
Date	:	14-11-2014
Subject Line	:	Deposit not returned
Complainant	:	Devasigamani
Address	:	Mumbai,700078
Complainee	:	PACL India Limited
Address	:

Complaint Details
PACL has proved to be the worst financial disaster for the gullible poor middle class people. It is unfortunate that there have been complaints about the financial status of the cheating company for quite some time, but the concerned govt. authorities and agencies have turned blind eyes towards the systematic financial bungling of the predatory cheater. It is being run by heartless and insensitive group of people. Even Maturity values of members whose investment plans have already expired are running from pallor to post for their maturity value for years. People are waiting for 6 months, one year and even more than two years also for their money to be returned. What will happen to those several crores of poor people whose payments are half way? I AM ALSO ONE AMONG THEM. SEBI says it has been watching the financial dealing/misdealing of the company for more than 10 years. What prevented them to take appropriate action 10 years before OR in time to save the poor people’s hard earned money? Why have the govt authorities have given the predator entity a long rope to allow it this much time to cheat the poor people of several thousands crores of rupees. The number of people having been affected is not in hundreds or thousands or lacs, but in several thousands of crores. Even after having been convenienced that the fraudsters (group of cheaters) are up to cheating and depriving the gullible poor peoples of their hard earned money for nearly 10 years ago the appropriate govt authorities have been hesitant to take proper action to help the poor people. This is the tragedy of the Indian Govt. and the fate of poor people. Indian Government authorities are willingly and whole heartedly resigning the poor people in the hands of powerful predatory crocodiles. After everything has been finished and the hopes of millions of people have been dashed to the ground, there will be some reluctant eye washing and fire fighting action from the govt authorities which will serve no purpose and no investor will get back their money.
IT IS ALREADY TOO LATE. IT IS 100% SURE THAT NO INVESTOR IN PACL LTD IS GOING TO GET BACK THEIR MONEY. IT IS HIGH TIME THE INVESTORS TAKE THEIR OWN ACTION BY JOINING TOGETHER TO MEET THE CONCERNED GOVT AUTHORITIES AND RESORTING TO AGITATIONS INFROINT OF THE FRAUD COMPANY OFFICES. MOST OF THE COMPANY’S OFFICES ARE DEFUNCT, NO BRANCH MANAGER/REGIONAL MANAGER/STAFF IN THER OFFICE. DISCONTINUED THE PHONES. NO EMAIL IDS AVAILABLE. THESE ARE THE SIGNS OF CLOSING DOWN SHORTLY AND RUNNING AWAY FOR THE COMPANY. ALL INVESTORS ARE GOING TO BE LEFT IN THE LURCH. SO MANY INVESTORS ARE GOING TO COMMIT SUICIDE AND SOME OTHERS ARE GOING TO DIE BECAUSE OF HEART ATTACKS AND MILLIONS ARE GOING TO BE REDUCED FROM POOR AND MIDDLE CLASS PEOPLE TO THE POOREST PEOPLE CATEGORY.
THESE ARE ALL GOING TO HAPPEN IN THE IMMIDIATE FUTURE BECAUSE OF THE SYSTAMATIC FRADULENT FINANCIAL BUNGLINGS CIMMITTED BY THE GROUP OF CRIMINALS viz PACL INDIA LIMITED WHO ARE INSENSITIVE TO THE SUFFERINGS OF POOR PEOPLE AND DUE TO INACTION ON THE PART OF GOVT AUTHORITIES AND AGENCIES. EVEN AFTER KNOWING VERY WELL THAT THE FRAUD COMPANIES ARE NOT DOING BUSINESS IN THE BEST INTEREST OF THE INVESTORS, BUT FOR THE BEST INTEREST OF THE GROUP OF CHEATERS, THE GOVT AUTHORITIES HAVE NOT DONE ANYTHING CONCRETE TO SAVE THE POORPEOPLE. THEY HAVE BEEN MERELY WATCHING WITH SOME INEFFECTIVE/UNPRODUCTIV E ACTIONS.
CRIMINAL MINDED GROUP OF PERSONS HAVE WELL PLANNED WAYS AND WELL/ILL EQUIPPED ADVISORS TO FLEECING GULLIBLE INVESTORS. ON THAT STRENGTH THEY CARRYOUT THEIR PLAN SUCCESSFULLY. WHEN THE GOVT AUTHORITIES TAKE SOME INEFFECTIVE ACTION AND FAIL TO BRING THE CULPRITS IN TO BOOK AND PUT AN END TO THEIR CRIMINAL ACTIVITES, THE CRIMINAL S ARE ENCOURAGED AND STRENGTHENED FURTHER AND IT PROVES TO THE DETRIMANTAL OF THE POOR INVESTORS. THIS IS EXACTLY WHAT HAS HAPPENED IN THE CASE OF PACL LTD AND THE INVESTORS.
IF THE GOVT AUTHORITIES HAVE ANY INTEREST IN HELPING THE INVESTORS AND SENSITIVE TO THE FINANCIAL SUFFERINGS OF THE POOR PEOPLE, AUTHORITIES LIKE SEBI, CID AND CBI SHOULD ACT IMMEDIATELY, EFFECTIVELY AND SUFFICIENTLY TO EXERT PRESSURE ON THE DEFRAUDERS TO BRING BACK ALL THEIR MONEY INVESTED ELSEWHERE TO RETURN THE INVESTORS THEIR MONEY. INVESTOR TOO SHOULD NOT BE SATISFIED AND BE CONTENT BY MERELY VISITING THE OFFICE OCCATIONALLY AND TALKING TO THE ACCOMPLICES SITTING THERE, THEY SHOULD GROUP UNDER SOME ABLE HIGHVALUE INVESTORS WITH GOOD LEADESHIP QUALITIES AND PLAN SOME STRONG ACTION.

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